We advised on the issuance of Debt Securities of the Province of Entre Ríos for US$300,000,000 and on the cash tender offer for the bonds maturing in 2028

DLA Piper advised the Province of Entre Ríos and A&O Shearman and Bruchou & Funes de Rioja advised the Initial Purchasers and the Local Placement Agents on the issuance of international debt securities denominated and payable in U.S. Dollars at a nominal annual interest rate of 9.550%, maturing on March 4, 2033, in an aggregate principal amount of US$300,000,000 (the “Debt Securities”), and on the cash tender offer for the step-up U.S. Dollar-denominated bonds maturing in 2028 (the “Existing Bonds”), pursuant to which Existing Bonds in a total outstanding principal amount of US$179,900,689.95, corresponding to a total original principal amount of US$399,779,311, were accepted for purchase, representing 77.25% of the total original principal amount outstanding (the “Tender Offer”).

The Province allocated the proceeds from the issuance of the Debt Securities to (i) improve the Province’s debt maturity profile and make debt service payments, including the repurchase of any and all Existing Bonds validly tendered and accepted in the Tender Offer, and may allocate the proceeds to (ii) finance the development of infrastructure and public works projects, including infrastructure related to roads, ports, hospitals, education, sanitation and housing, with any excess amounts, as determined by the Provincial Executive Branch.

The Debt Securities were issued on March 4, 2026, bear interest at a nominal annual rate of 9.550%, payable semiannually, with principal payable in three annual and consecutive installments.

BBVA Securities Inc., BofA Securities, Inc. and Santander US Capital Markets LLC acted as initial purchasers of the Debt Securities and as dealer managers of the Tender Offer.

Balanz Capital Valores S.A.U., Banco Santander Argentina S.A. and Puente Hnos. S.A. acted as local placement agents.

Global Bondholder Services Corporation acted as information and tender agent in connection with the Tender Offer.

Legal counsel to the Province of Entre Ríos:

DLA Piper acted as legal counsel to the Province under New York law and Argentine law. The team was comprised of partners Joshua Kaufman and Marcelo Etchebarne, of counsel Nicolás Teijeiro and associate Daiana Suk (New York law); and comprised of partner Justo Segura and associate Federico Vieyra (Argentine law).

Legal counsel to the Initial Purchasers, Dealer Managers and Local Placement Agents:

With respect to U.S. law: A&O Shearman, through partner Alejandro Gordano and visiting attorneys Gonzalo Robles, Moises Gonzalez Arroyo and Mariana Lobato.

With respect to Argentine law: Bruchou & Funes de Rioja, through partner Alejandro Perelsztein and associates Quimey Waisten and Gonzalo Vilariño.